Price Action To Observe: What’s in SYSCO Corporation After Today’s Significant Increase?

Price Action To Observe: What's in SYSCO Corporation After Today's Significant Increase?

The stock of SYSCO Corporation (NYSE:SYY) is a huge mover today! About 766,973 shares traded hands. SYSCO Corporation (NYSE:SYY) has risen 6.59% since March 9, 2016 and is uptrending. It has underperformed by 0.82% the S&P500.
The move comes after 8 months positive chart setup for the $26.65B company. It was reported on Oct, 12 by Barchart.com. We have $62.63 PT which if reached, will make NYSE:SYY worth $7.73B more.

Analysts await SYSCO Corporation (NYSE:SYY) to report earnings on November, 7 before the open. They expect $0.60 EPS, up 15.38% or $0.08 from last year’s $0.52 per share. SYY’s profit will be $329.35M for 20.23 P/E if the $0.60 EPS becomes a reality. After $0.64 actual EPS reported by SYSCO Corporation for the previous quarter, Wall Street now forecasts -6.25% negative EPS growth.

SYSCO Corporation (NYSE:SYY) Ratings Coverage

Out of 13 analysts covering Sysco Corporation (NYSE:SYY), 4 rate it a “Buy”, 4 “Sell”, while 5 “Hold”. This means 31% are positive. Sysco Corporation has been the topic of 19 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was downgraded by Morgan Stanley to “Underweight” on Tuesday, February 2. The company was upgraded on Friday, March 11 by Clevland Research. The firm earned “Outperform” rating on Thursday, November 19 by Wells Fargo. As per Wednesday, August 26, the company rating was maintained by Deutsche Bank. On Tuesday, May 3 the stock rating was maintained by Goldman Sachs with “Sell”. The rating was initiated by Barclays Capital on Friday, September 23 with “Underweight”. The stock of SYSCO Corporation (NYSE:SYY) earned “Buy” rating by Argus Research on Friday, February 5. The stock has “Outperform” rating given by Macquarie Research on Tuesday, May 3. The company was initiated on Tuesday, December 15 by Goldman Sachs. The stock has “Neutral” rating given by Bank of America on Monday, June 20.

According to Zacks Investment Research, “Sysco Corporation is the largest North American distributor of food and food related products to the foodservice or food-prepared-away-from-home industry. The company provides its products and services to restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.”

Insitutional Activity: The institutional sentiment increased to 0.96 in 2016 Q2. Its up 0.03, from 0.93 in 2016Q1. The ratio improved, as 39 funds sold all SYSCO Corporation shares owned while 347 reduced positions. 86 funds bought stakes while 284 increased positions. They now own 417.36 million shares or 6.17% less from 444.80 million shares in 2016Q1.
Aqr Capital Limited Liability Co holds 0.22% of its portfolio in SYSCO Corporation (NYSE:SYY) for 2.49 million shares. Wunderlich Managemnt accumulated 27,172 shares or 1.17% of the stock. Natl Planning Corporation has 0.1% invested in the company for 25,378 shares. Moreover, Meiji Yasuda Asset Com Ltd has 0.09% invested in SYSCO Corporation (NYSE:SYY) for 12,759 shares. Prudential Inc holds 768,407 shares or 0.07% of its portfolio. Moreover, Pittenger & Anderson has 0% invested in SYSCO Corporation (NYSE:SYY) for 200 shares. Savings Bank Of New York Mellon Corp holds 13.28M shares or 0.21% of its portfolio. Chicago Equity Prtnrs Limited Liability Com, a Illinois-based fund reported 218,720 shares. Bnp Paribas Arbitrage Sa has 117,462 shares for 0.03% of their US portfolio. Rothschild Asset Management last reported 11,998 shares in the company. U S Global Invsts accumulated 0.28% or 9,931 shares. Voloridge Mgmt Ltd Liability has 0.03% invested in the company for 19,458 shares. Savant Capital Ltd Company, a Illinois-based fund reported 6,019 shares. Blackrock Japan last reported 725,414 shares in the company. Employees Retirement Association Of Colorado last reported 0.05% of its portfolio in the stock.

Insider Transactions: Since April 15, 2016, the stock had 1 insider purchase, and 13 selling transactions for $26.04 million net activity. The insider WARD JACKIE M bought $301,535. Day William B. also sold $5.58 million worth of SYSCO Corporation (NYSE:SYY) shares. $1.88 million worth of shares were sold by Libby Russell T. on Monday, June 6. 16,398 SYSCO Corporation (NYSE:SYY) shares with value of $836,298 were sold by Grade Joel T.. $934,342 worth of shares were sold by DeLaney William J III on Friday, April 15. HAFNER JOSEPH A JR sold $340,130 worth of stock or 7,000 shares. Koerber Hans-Joachim had sold 10,000 shares worth $464,900 on Friday, April 15.

More news for SYSCO Corporation (NYSE:SYY) were recently published by: Nytimes.com, which released: “Herbert Irving, Sysco Co-Founder and $300 Million Hospital Donor, Dies at 98” on October 11, 2016. Nasdaq.com‘s article titled: “Sysco Corporation (SYY) Ex-Dividend Date Scheduled for October 05, 2016” and published on October 04, 2016 is yet another important article.

SYY Company Profile

Sysco Corporation (Sysco),incorporated on May 8, 1969, along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Firm provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers. Sysco provides food and related products to the foodservice or food-away-from-home industry. The Firm has aggregated its operating companies into a number of divisions, of which only Broadline and SYGMA are the main divisions. Broadline operating companies distribute a line of food products and a variety of non-food products to their customers. SYGMA operating companies distribute a line of food products and a variety of non-food products to chain restaurant customer locations.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment